Oddly enough, just two years after hiring Sallie Krawcheck from Citi, BofA has just made her into the first sacrificial scapegoat. Odder still, is that Lehman also fired a women scapegoat a few weeks before it filed for bankruptcy. Coincidence? Find out when Brian Moynihan is fired in a few short weeks.
witzerland's decision to peg the erstwhile safe-haven franc to the euro may finally give gold bugs the chance to see prices hit the once-unimaginable $2,000 an ounce mark, as the metal holds on track for its strongest annual rally in three decades. By buying euros in unlimited amounts to weaken the franc, the SNB is in effect putting more of its own currency into circulation, which threatens to trigger inflation. It has also impacted the Swiss currency's status as a haven in its own right. While gold prices initially dipped as the move sparked a rush to liquidity in the form of other currencies such as the dollar, the SNB move is likely to lend firm support to gold in the medium term, analysts said.
Bank of America's MacNeill Curry said that Gold will probably rise to $2,050 this year. The rationale - identical to the above: SNB decision to peg franc to euro should also support gold. "They have taken out one of the big safe-haven assets, which is the Swissie.
for the amount of time the idiots will need to realize that QE3 coupled with the SNB action means that gold is now valued somewhere well over $2000: at least a few days...
Adjusted for inflation, gold already hit $2,000 an ounce in October 1980. In 1980s money, Tuesday's record high gold price of $1,920.30 an ounce is only worth $720.
Swiss National Bank announces it will buy foreign currency in unlimited quantities to achieve a target exchange rate. That's quantitative easing with real meat on it.
7. How will this affect the eurozone?
That depends in part on what the SNB decides to do with all of those euro it will be accumulating. Some reports suggest that the SNB (typically cautious) had decided to only buy German and French government bonds with those euro, and not bonds from other eurozone countries. That will have the effect of exacerbating the interest rate differentials between the eurozone core and periphery, potentially making things worse. It would be reasonable to interpret this as indicating that the SNB believes that there's a good chance that eurozone is going to lose the periphery countries.
That depends in part on what the SNB decides to do with all of those euro it will be accumulating. Some reports suggest that the SNB (typically cautious) had decided to only buy German and French government bonds with those euro, and not bonds from other eurozone countries. That will have the effect of exacerbating the interest rate differentials between the eurozone core and periphery, potentially making things worse. It would be reasonable to interpret this as indicating that the SNB believes that there's a good chance that eurozone is going to lose the periphery countries.
The move will work for a while, but the market will have more money in the end than the SNB. The Swiss central bank risks losing a lot of money buying up lots of foreign currencies which they will eventually sell at a loss.
“If we see a nasty global recession, then risky assets, starting with equities, are going to hurt and going to hurt big time,” Roubini said.
Looking to Sell Francs
By Joel Kruger, Technical Strategist
06 September 2011 11:06 GMT
Teenagers and youngers ( late hired)
Manipulating plants' internal clock offers possibility of all-season crops
There has been a monetary union being done without a fiscal union. W
There are two options, he noted, either break-up the euro [EUR=X 1.4044 
0.005 (+0.36%) 
] or reform it towards fiscal integration. "Frankly breaking-up is a disaster scenario'. That's why I think it will not happen
0.005 (+0.36%) ] or reform it towards fiscal integration. "Frankly breaking-up is a disaster scenario'. That's why I think it will not happenlthough it may be too embarrassing to reverse the recent rate hikes so soon, he will probably make it clear that further increases are now firmly off the agenda and leave the door wide open for decreases in the near future.
forcing actual market rates lower than the refinance rate, if it chooses to keep this at 1.5 percent to save face, but probably also a reduction in same back to 1 percent.
Farmland
Investment management firm BlackRock Inc. (NYSE:BLK) recently announced it had taken a multi-million dollar position in farmland in several Mid-western states.
Not everyone can quickly and easily purchase blocks of farmland. For those needing an alternative, the closest thing to a pure farmland play among exchange-traded funds (ETFs) would be the Market Vectors Agribusiness Fund (NYSE:MOO).
MOO seeks to replicate the performance of the DAXglobal Agribusiness Index,
- Bunge Ltd. (NYSE:BG), recent price $64.56 — Bunge operates in about 40 countries, where it buys, sells, stores and transports oilseeds and grains, makes protein meal for animal feed and edible oil products for commercial and retail consumers, produces sugar and ethanol from sugarcane, mills wheat and corn to make ingredients for food companies, and sells fertilizer in North and South America. The company was founded in 1818, and the 2010 value of its farmland, plants and equipment was listed at $5.31 billion. The company earned $6.83 a share in its most recent fiscal year, has a modest trailing 12-month Price/Earnings (P/E) ratio of just 8.85 and pays a dividend of $1.00 a share, yielding 1.6%.
- Archer Daniels Midland Co. (NYSE:ADM), recent price $28.26 – Archer Daniels’ is a major processor of oilseeds, corn, wheat, cocoa and other agricultural commodities and manufactures corn sweeteners, vegetable oil and protein meal, flour, biodiesel, ethanol and other food products. It also has a grain elevator and transportation network to store, clean, and transport many agricultural commodities. Its property holdings, including farmland, were valued at $8.71 billion for the year ending June 30, 2011. It reported at net profit of $1.93 billion, or $3.13 a share, and pays a 64-cent dividend for a yield of 2.3%.
- Monsanto Co. (NYSE:MON), recent price $68.93 – Monsanto and its subsidiaries are among the world’s leading suppliers of seeds – both natural and genetically engineered – fertilizers, herbicides and other products designed to improve productivity and reduce farming costs. It operates in nearly 80 countries, including China. Monsanto in fiscal 2010 had net income of $1.1 billion, or $2.88 a share, on revenue of $10.5 billion. Its $1.20 dividend provides a yield of 1.71%.
- Cresud Inc. ADRs (Nasdaq:CRESY), recent price $13.95 – Based in Argentina, Cresud also engages in farming in Brazil and has investments in agricultural operations in a number of other Latin American countries, focusing on grains, beef cattle and milk production. The company earned 61 cents a share on revenue of $1.88 billion in its most recent fiscal year. The stock pays a dividend of 33 cents a share, good for a 2.43% yield.
- Cosan Ltd. (NYSE:CZZ), recent price $10.97 – Brazil-based Cosan grows and processes sugar for human consumption and for use in ethanol production. It also sells sugar all over the world, holds property – including farmland – valued at $4.14 billion in 2010, and had more than $900 million in cash and equivalents at the end of its latest fiscal year. The company logged $8.28 billion in revenue last year, which netted per-share earnings of $3.36. The 28-cent dividend provides a yield of 2.55%.
The properties cover about 960 acres and are leased to Dole Fresh Vegetables, a subsidiary of Dole Food Company Inc. (NYSE:DOLE),
decode my genome
http://www.zerohedge.com/news/charting-soma-twist-here-what-55-billion-pomo-purchases-will-look-starting-very-shortly
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